A single European market in financial services will allow financial institutions to provide their services to every member state of the European Union (EU) without the need to comply with heterogeneous entry requirements.
A significant regulation in this arena is Markets in Financial Instruments Directive (MiFID) which will require all financial institutions across EU to comply with newer and more extensive requirements than its predecessor Investment Services Directive (ISD).
Services
Our solutions for MiFID are focused on categorized Trading, Investor and Operations & Data Management. Catering to the areas of Pre-trade and Post-trade disclosures, the solution includes optimum order execution and order routing techniques.
Our integrated solutions aim at delivering the maximum business value backed by modern technologies, models, frameworks and tools.
| Trading |
Pre-trade Transparency
Post-trade Transparency
Best Execution
Order Handling |
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| Investor |
Knowledge of Client
Information Disclosure |
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| Operations & Data Management |
Transaction Reporting
Conduct of Business
Record Keeping |
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Hexaware MiFID Key Themes
Hexaware offers an integrated MiFID solution that meets all compliance objectives. The solution aims at aligning compliance with the business objectives by conducting fit-gap analysis and impact management procedures. Our sequential solutions follow a roadmap that commences with IT Consulting through to IT Governance.
- IT Consulting: Recommends high level IT-Compliance roadmap which is arrived at by conducting fit-gap and impact analysis designed to assess business-IT alignment.
- Construction: Encompasses Design and Development followed by testing and eventual roll-out phase. In this, we develop tailored record keeping models using business analytics techniques.
- Audit: This phase includes Process audit, System audit and Compliance audit. We use proven tools and templates that help in scrutinizing the alignment of compliance with the business objectives.
- IT Governance: Includes Support and Maintenance services that lead to Continuous Performance Improvement and ongoing cost control measures.
Value Proposition
- Our approach to MiFID goes beyond reactive compliance with MiFID regulation towards an efficient and proactive solution that leverages business benefits
- Strong Domain Consulting: Working successfully on ongoing projects in Risk & Compliance vertical with the leading global banking and financial services, Hexaware brings depth of experience and knowledge in recommending solutions compliance with MiFID as well as strategizing schemes to mitigate risk
- Intellect Tools & Templates: Our tested tools and templates assess the current state of your business processes and technology systems to see if it meets MiFID compliance, identify gaps and then create a customized application footprint for your overall portfolio
- Record Keeping & Report Generation:Our DBA experts provide cutting edge designs for developing Record Keeping models, Post-trade reporting and Pre-trade reporting techniques
- Robust Technical Competency: Enhances systems performance by identifying projects for Rationalization, Consolidation, Modernization and Offshoring to ensure business-technology compliance with MiFID